Financial news - 30th Jan

India’s domestic oil product sales in December rose 4 percent from a year earlier to 10.95 million tonnes. Domestic diesel sales were up 10.7 percent to 4.36 million tonnes from a year earlier.
The Union Cabinet reviewed and approved FDI policy for further liberalisation in following sectors such as civil aviation, petroleum and natural gas, commodity exchanges, credit information services, mining in titanium, industrial parks and construction and development.

India hopes to attract foreign investment of $26 billion in the 2007/08 fiscal year that ends in March, substantially higher than $16 billion a year earlier.
Among the Base metals, demand for Tin may increase as uncertainty concerning the level of tin production from Indonesia has supported the market in recent months. Also demand for Copper may increase on account of dwindling stockpiles and on speculation of Fed rate cut.